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Inquiry on Trading Ordered at Toronto

TORONTO, June 11 (Cana­dian Press) — A. A. Wishart Attorney General of Ontario, has ordered a three‐man in­vestigation Into the trading of stocks of companies having claims near Timmins, scene of a recent rich copper‐zinc-silver strike by the Texas Gulf Sul‑phur Company.

About 80 or 90 companies have been involved In the Tim­mins area, the Ontario Secur­ities Commission said.

Mr. Wishart said the Gov­ernment is Interested in finding out what “economic benefits” have resulted from the stock market activity.

The Texas Gulf strike touched off two days of the wildest trading ever seen on North American stock markets. A total of more than 28 mil­lion shares- changed hands on each of the days, most of

He said his four concerns had raised $2 million during the rush that followed the Tim­mins discovery.

“I personally welcome such a thing because it's time the wheat was separated from the chaff,” he added. “Some com­panies will put only two cents into the ground of each one dollar raised and some will put 95 cents into the ground.”

Comment Is Declined

P. N. Holtby, a partner in the firm of Doherty Roadhouse & McQuaig Bros., which has one of the two brokerage of­fices in Timmins, said “I’m very busy, I have nothing to say.”

D’ Arcy Doherty, president of the brokerage house and pres­ident of a mining company that was one of the most active during the rush — PCE Ex­plorations, Ltd., was not avail­able for comment.

Three stocks that were ex­tremely active at the time of the rush were Bunker Hill Ex­plorations. Ltd., PCE Explora­tions, Ltd., and Jelex Mines, Ltd.

PCE, which sold at the 10- cent level prior to the Texas Gulf strike, shot to a high for the year of $1.28. At noon to­day it sold at 53 cents a share.

Bunker Hill rose from 12 cents to $1 and was selling at 58 cents today.

Jelex reached a high of 46 cents and a low of 21 cents. The stock is now at the 26- cent level.

Another active stock was Glenn Uranium Mines, Ltd., which was relisted on the To­ronto Exchange after being de­listed for not having adequate funds. The stock was relisted at four cents a share and im­mediately shot to 56 cents.

It rose to 58 cents and now trades at around 25½-cents.

In a related development, In‑

The company had tried to stake the claims recently dur­ing the excitement generated by the strike.